StockNews.com Upgrades W&T Offshore (NYSE:WTI) to “Hold”

W&T Offshore (NYSE:WTI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

W&T Offshore Stock Down 3.4 %

W&T Offshore stock opened at $1.70 on Friday. W&T Offshore has a twelve month low of $1.69 and a twelve month high of $3.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The firm has a 50 day moving average price of $2.05 and a 200-day moving average price of $2.16. The company has a market capitalization of $250.51 million, a P/E ratio of -3.95 and a beta of 1.35.

Institutional Investors Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huber Capital Management LLC lifted its position in W&T Offshore by 18.1% in the 2nd quarter. Huber Capital Management LLC now owns 4,763,734 shares of the oil and gas company’s stock worth $10,194,000 after buying an additional 731,254 shares during the last quarter. Geode Capital Management LLC raised its position in W&T Offshore by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock worth $4,616,000 after purchasing an additional 52,186 shares during the period. Bank of New York Mellon Corp boosted its position in W&T Offshore by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 1,009,865 shares of the oil and gas company’s stock valued at $2,161,000 after buying an additional 50,094 shares during the period. Squarepoint Ops LLC grew its stake in shares of W&T Offshore by 197.3% during the second quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock valued at $884,000 after buying an additional 274,156 shares during the last quarter. Finally, Aristeia Capital L.L.C. lifted its stake in shares of W&T Offshore by 160.9% in the 2nd quarter. Aristeia Capital L.L.C. now owns 311,497 shares of the oil and gas company’s stock valued at $667,000 after acquiring an additional 192,088 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors.

W&T Offshore Company Profile

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.